Schaeffler sells Schaeffler Bio-Hybrid GmbH as part of a management buyout (MBO)

Managing Directors of Schaeffler Bio-Hybrid GmbH and venture builder meisterwerk ventures GmbH take over Schaeffler Bio-Hybrid GmbH
All jobs in Nuremberg and Munich will be retained
Series production of the Bio-Hybrid is to begin in 2021 under a new owner

The global automotive and industrial supplier Schaeffler today signed a purchase agreement with Micromobility services and solutions GmbH, a wholly-owned subsidiary of meisterwerk ventures GmbH, through which the Schaeffler Group is selling all shares in Schaeffler Bio-Hybrid GmbH.

Meisterwerk ventures GmbH is backed by five venture capital shareholders, including the company of Gerald Vollnhals, the current managing director of Schaeffler Bio-Hybrid GmbH. Mr. Vollnhals will continue to act as managing director of the company, which will operate as Bio-Hybrid GmbH in the future. The corporate identity related to the "Bio-Hybrid" brand will remain. The parties have agreed not to disclose the financial details of the transaction.

Schaeffler Bio-Hybrid GmbH has been working on the development of a pedelec on four wheels called Bio-Hybrid since the end of 2017. The vehicle combines the freedom and maneuverability of a bicycle with the transport volume and weather protection of a small car. It is powered by a combination of muscle power and an electric motor and can be operated on bike paths without a license. The company, which was founded as a start-up within the Schaeffler Group, has locations in Nuremberg and Munich.

Gerald Vollnhals said: “We would like to thank Schaeffler for their support on the way to series production, which we want to start in the second quarter of 2021. We are particularly pleased that all jobs will be retained as part of the change of ownership. Our excellent team will work even more closely with our most important partners and suppliers. So we stay on the accelerator and are pursuing the goal of selling a four-digit number of Bio-Hybrid units in 2021. We would like to start the reservation phase this year. "

Uwe Wagner, Head of Research and Development at Schaeffler AG, commented: “The joint development of the Bio-Hybrid was a very exciting project in which everyone involved learned a lot. We are pleased to have paved the way for a successful future for this promising concept. Independent of the Schaeffler Group, the new company will be able to act with even greater agility in the future and advance series production in a more targeted manner. "

To Bio-Hybrid GmbH
Bio-Hybrid GmbH is a German tech start-up that is rethinking the future of mobility and making it sustainable. For less smog, more smartness and a better quality of life. With around 25 employees in Nuremberg and Munich, the company is preparing the start of series production of the covered pedelec Bio-Hybrid, which is planned for mid-2021. In its passenger, cargo and pick-up variants, the new mobility concept closes the gap between bicycle and car. The Bio-Hybrid idea was presented by Schaeffler in 2016 as a vision for individual transport in urban areas. In November 2017, the automotive and industrial supplier founded Schaeffler Bio-Hybrid GmbH to develop the Bio-Hybrid for series production. After the sale of the company, the company has been operating outside the Schaeffler Group under the umbrella of meisterwerk ventures GmbH since October 2020.

To meisterwerk ventures GmbH
Meisterwerk ventures GmbH is a venture builder with headquarters in Berlin. The company, founded in 2016, specializes in the development of companies in medical technology and e-mobility. The meisterwerk ventures GmbH is backed by a team of experienced inventors and technologists who develop innovative technical solutions with disruptive thinking and versatile engineering know-how. The portfolio companies include midge medical GmbH, which is working on a new type of technology for mobile COVID-19 genetic tests, AICURA medical GmbH, which is developing an artificial intelligence-based health platform for doctors and clinics, and Micromobility services and solutions GmbH , to which Bio-Hybrid GmbH belongs.